In strategic move to venture into VR hardware field, Digital Domain acquired 3Glasses, VR Technology Holdings Ltd.
Digital Domain is very well-known in various international circles of technology industries through their immense contribution in blockbuster Hollywood movies, TV series, Games and various VR (Virtual Reality) projects. Recently, they had organized VR Hackathon at Hyderabad, India to nurture and advance the calibre of local talents in the field of Virtual Reality and its related applications. The said Virtual Reality challenge had been successful on mammoth level and opened multiple job opportunities for freshers and industry experts, in turn which will be helpful for native VR/AR technology developments.
Digital Domain acquired 3Glasses aka VR Technology Holdings Ltd. on 22nd March, 2018 with 60% stack in the company.
VR Technology Holdings Ltd. company is major innovator in VR hardware field of China market, with experience of 16+ years. They had launched China’s first VR headset – 3Glasses D1, first MR (Mixed Reality) headset- 3Glasses Blubur S1 and also contributed for development of the VR player- 3Box. Their extensive SDK (Software Development Kit) had helped other industry players to come up with various software solutions tool and content development on huge level. In 2016, with collaborating with other top notch technology brands, they had become Microsoft ‘Windows Mixed Reality’ global partner.
Benefits for Digital Domain through acquisition of 3Glasses:
Believing in holistic approach of technology development, DD (Digital Domain) entered into VR hardware arena with this acquisition. 3Glasses is the leading brand in creating mass consumer oriented VR headset, VR helmet and related VR / AR (Augmented Reality) devices. Such VR hardware technology will now be combined with Digital Domain’s VR and AR software solutions to give users an exclusive end-to-end experience seamlessly.
Talking about financial figures, 3Glasses is very much positive in rising sales numbers. They are confident in profit of not less than RMB (Renminbi) 30 million and RMB 50 million, for 2018 and 2019 respectively.
In a nutshell, it will help DD to expand their overall VR business, to develop a fully integrated VR ecosystem through content creation and distribution, deploying them via Digital Domain’s own online and offline platforms.
